This Week in Finance News: 12 Stories You Need to See

A roundup of the week's most newsworthy financial industry press releases from PR Newswire, including possible effects on housing prices if the U.S. defaults on its debt.

NEW YORK, May 12, 2023 /PRNewswire/ -- With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help journalists covering the finance industry stay on top of the week's most newsworthy and popular releases, here's a roundup of stories from the week that shouldn't be missed.

The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.

1. Home-buying costs could soar 22% if US defaults on its debt
   Mortgage rates rising above 8% would likely overwhelm a small price dip to make affording a home an even steeper hill to climb and send home sales tumbling, according to a new Zillow® analysis.
2. Binance Launches Metaverse Show to Find the Next Big Web3 Entrepreneur
   Binance, the world's leading blockchain and cryptocurrency infrastructure provider, is debuting "Build The Block," a new global digital series where Web3 startups will compete for investment from Binance Labs. Build The Block is the first show format of its kind and Binance's first foray into the metaverse.
3. BofA Finds Younger House-Hunters Undeterred by What Many Believe is a Seller's Market
   "The market is less frenzied as rates have moderated, and that may be impacting perception," said Matt Vernon, head of retail lending at Bank of America. "And low inventory is still creating a highly competitive environment. Homebuyers are doing the right thing by taking time to understand the market, weigh their priorities and determine what fits into their budgets."
4. Survey: Base Salaries for Treasury and Finance Professionals Increased 5% in 2022
   Treasury and finance professionals realized a 5% gain in their base salaries in 2022, up from a 4.4% increase in 2021, according to the 2023 Association for Financial Professionals (AFP) Compensation Report. This represents the largest average base salary increase in the past 10 years. 
5. Banks are divided on how to tackle ESG pressure from stakeholders and lack clarity on who's responsible for managing climate risks
   The global survey of International Association of Credit Portfolio Managers (IACPM) members shows them split nearly down the middle on whether ESG pillars primarily represent downside risks to be managed or upside opportunities to be captured, with European respondents most bullish on opportunities.
6. Indiana Becomes 19th State to Guarantee Personal Finance for all High School Graduates
   The legislation requires personal finance to be a separate subject and to provide instruction on a number of content areas including managing credit scores, investing, and filing taxes.
7. Survey: US Job Satisfaction Hits All-Time High
   Eren Selcuk, Senior Economist at The Conference Board, said, "Job satisfaction was up across the board in 2022—and especially high for workers who switched jobs. While a mild recession in 2023 is likely to ease labor shortages and reduce labor mobility, the impact on job satisfaction may be brief and minor: Demographic trends suggest tight labor markets are here to stay, putting the onus on employers to compete for talent."
8. Savvy Ladies Expands its Free Financial Helpline Building the Financial Roadmap for Women's Wealth and Empowerment
   The new mobile app enables Savvy Ladies to reach more women's communities helping to improve women's money knowledge and confidence. The new app makes it easier and faster to connect across multiple categories affecting women financially, including divorce, budgeting, debt management, investing, and small business planning.
9. CrossCountry Mortgage Helps Renters Become Homeowners through Unique Financing Solutions
   As inflation continues to strain wallets and the cost of rent increases, CrossCountry Mortgage (CCM) is offering unique financing solutions to make owning a home possible for everyone. Several programs provide benefits to renters and allow homeownership to set a foundation for a brighter future.
10. Ledgible Partners with CryptoCFOs to Expand Professional Education Offerings
    "With the growing adoption of digital assets, accounting and tax professionals need to understand the implications on accounting and taxes as many tax and accounting tools were not designed for the unique needs of cryptocurrency transactions," said Kell Canty, CEO of Ledgible.
11. First Home Mortgage Corporation Launches First Home's Dream Program to Provide Down Payment Assistance to Homebuyers
    First Home's Dream Program is designed to assist low to moderate income homebuyers with down payment assistance on conventional 30-year mortgages. This new initiative aims to make homeownership more affordable, especially for those who are struggling to save enough money for a down payment in today's competitive housing market.
12. TerraPay welcomes Visa as a strategic investor and global partner as digital cross-border trade accelerates
    The enablement of Visa Direct to TerraPay's global partner integrations of mobile wallets and bank accounts can empower seamless and fast person-to-person remittances for individuals, as well as business pay-outs for small and medium businesses (SMBs), across 108 receive countries.

Read more of the latest finance-related releases from PR Newswire and stay caught up on the top press releases by following @PRNfinance on Twitter.

Can't-Miss Earnings

In addition to these popular releases, several must-read earnings reports crossed the wire this week, including the quarterly results for Liberty Mutual and PayPal.

Catch up on all the latest earnings reports here.

Helping Journalists Stay Up to Date on Industry News

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